First Bauxite Corporation completes going-private transaction

1 minute read
21 December 2018

On Dec. 21, 2018, First Bauxite Corporation ("First Bauxite") completed its previously announced going-private transaction via an arrangement under a statutory plan of arrangement pursuant to section 288 of the Business Corporations Act (British Columbia). All of the conditions precedent set out in the arrangement agreement between First Bauxite and Resource Capital Fund V L.P. and Resource Capital Fund VI L.P. (collectively, the "RCF Funds") were satisfied or waived and the RCF Funds now together hold 100% of First Bauxite's common shares.

First Bauxite is a Canadian natural resources company headquartered in New Orleans, Louisiana engaged in the exploration and development of bauxite deposits in Guyana, South America.

Gowling WLG advised First Bauxite with respect to this transaction with a team that included Brett Kagetsu and Raymond Ong (corporate/M&A),  Martin Palleson (litigation) and Brent Kerr (tax).

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